Royal Mail to increase stamp prices

Royal Mail is to increase the price of first and second-class stamps next month.

From 7 April, the cost of a first-class stamp will rise by 5p to £1.70.

Meanwhile, a second-class stamp will go up by 2p to 87p.

Nick Landon, chief commercial officer at Royal Mail, commented: “We always consider price changes very carefully but the cost of delivering mail continues to increase.

"A complex and extensive network of trucks, planes and 85,000 posties is needed to ensure we can deliver across the country for just 87p."

Price hike ‘a blow to consumers’

Responding to the announcement, Citizens Advice said that Royal Mail is putting up prices despite not meeting an annual delivery target for five years.

“This is yet another blow to consumers,” said director of policy Tom MacInnes.

“While stamp prices continue to climb, millions of people face post delays every year.”

Mr MacInnes said that when prices go up next month, people will be paying 124% more for a first-class stamp and 34% more for a second-class stamp more than they were in 2020.

“Ofcom needs to act fast,” he added.

“Consumers have a right to an affordable service, but year-on-year, it’s allowing Royal Mail to charge more for a service that isn’t being delivered.”